Influence of Technology Change on High-Quality Economic Development in China

Shaobo Long, Mengxue Zhang and Lu Chen
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Shaobo Long: School of Public Policy and Administration, Chongqing University, Chongqing 400044, China; Institute of Chinese Economic Practice and Thinking, Tsinghua University, Beijing 100084, China
Mengxue Zhang: School of Public Policy and Administration, Chongqing University, Chongqing 400044, China
Lu Chen: School of Public Policy and Administration, Chongqing University, Chongqing 400044, China

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2022, vol. 17, issue 3, 427-455

Abstract: Since the implementation of the reform and opening up policy, rapid growth has been witnessed in the Chinese economy, thanks to the introduced technological progress as well as the institutional advantages of the country. However, while this exogenous technological progress promotes economic growth quantitatively, it is, unfortunately, not conducive to the improvement of the quality of the economy. Structural imbalances have thus been produced, which hinder the high-quality development of the economy of the country. Besides, by way of the supply and demand rebalance mechanism, resource optimized allocation mechanism, and new and old kinetic energy conversion mechanism, original technological progress can effectively push forward the quality change, efficiency change and dynamic change in the economy, thereby promoting the innovation, coordination, greenness and openness as well as the shared development of the economy. Therefore, the current technological transformation in China needs to change from the second stage the stage of transition from the introduced technological progress mode to the original technological progress mode then to the third stage the stage mainly based on the original technological progress, which is the key to the successful transformation of the Chinese economy from the high-speed growth phase to the high-quality development phase.

Keywords: high-quality economic development; original technological progress; introduced technological progress (search for similar items in EconPapers)
Date: 2022
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